Bank of England maintains bank rate at 5.5%

The Bank of England's Monetary Policy Committee (MPC) has voted to maintain the official bank rate paid on commercial bank reserves at 5.5%.

The previous change in bank rate was an increase of 0.25 percentage points to 5.5% on 10 May 2007.

The decision to hold rates at the 5.5% level had been widely expected as the Bank needs time to evaluate the impact of recent rises - UK rates have been hiked four times since last August in efforts to curb inflation.

Business leaders welcomed the decision, to

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